Level 3 Completes Purchase of BellSouth Assets Divested by AT&T Inc
Level 3 Communications, Inc. (NASDAQ: LVLT) today announced that its operating subsidiary has purchased certain assets from AT&T Inc. (NYSE: T) that were divested as a result of the merger between AT&T and BellSouth. The acquired assets consist of indefeasible rights of use (IRUs) for dark fiber connections to 27 buildings as well as more than 450 metro fiber route miles in the nine markets where AT&T was required to divest assets.
Level 3 has acquired divested fiber assets in Atlanta; Birmingham, Ala.; Charlotte, N.C.; Chattanooga, Tenn.; Jacksonville, Fla.; Knoxville, Tenn.; Nashville, Tenn.; Orlando, Fla.; and South Florida. Under the terms of the agreement, Level 3 retains intermediate splice rights, which will enable it to add new buildings to the acquired assets.
“The purchase of these new assets further expands the metro market reach of the Level 3 network,” said Raouf Abdel, president of Level 3’s Business Markets Group. “The ability to add new buildings and offer the full portfolio of Level 3 services in each of these markets provides additional growth opportunities and reinforces our commitment to providing customers with facilities-based access to a comprehensive range of network solutions.
“This acquisition does not require the type of integration associated with recent metro and backbone transactions. The addition of these assets on favorable terms parallels Level 3’s previously announced acquisition of divested assets following the merger of AT&T Corp. and SBC Communications Inc.”
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